A company official also said that the Madras High Court had instructed the tax department not to take further action pending further hearings.
According to Cognizant, it has paid all applicable taxes.
The dispute pertains to Cognizant Technology Solutions India (P) Ltd buying its own shares from shareholders - two companies, one based in Mauritius and the other in US - in 2016 under a scheme of arrangement and compromise.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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